250 affordable rental homes to be built in South Vancouver

The City of Vancouver has announced it will be building 250 new affordable rental homes in South Vancouver.

Sixty-five per cent of the homes will be two and three-bedroom.

Three sites have been approved by the City of Vancouver’s Development Permit Board and will offer a mix of housing to meet the needs of families, seniors and working residents at low to moderate incomes.

“Finding good quality, affordable rental homes in Vancouver for families is particularly challenging as our vacancy rate hovers near zero. City Hall will keep doing everything we can and pursue all tools available to tackle our housing crisis head on, and build more affordable housing so Vancouver can continue to be a place families call home,” said Mayor Gregor Robertson in a press release.

Rental rates for all the homes will be slightly below market rate.

The city provided the land and senior levels of government will build the housing.